Tax benefit for loan against property
2 years ago
We have a plot on which we wanted to build 1 BHK. Hence now we have taken a loan against that plot around 15 Lac and started for the construction. I wanted to know can I get any tax benefit on such type of loan against property?
Ayantika Mondal @ Prime Legal
Responded 2 years ago
A.hey,
Yes, a loan against property enables you to save on the tax amount payable. ... You can claim tax exemption from a loan against property if the loan amount is utilized for business purposes. In such cases, benefits can be claimed against interest paid and associated fees and charges incurred.
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Yes, a loan against property enables you to save on the tax amount payable. ... You can claim tax exemption from a loan against property if the loan amount is utilized for business purposes. In such cases, benefits can be claimed against interest paid and associated fees and charges incurred.
if you like my answer pls give me a good rating
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A.hey,
Yes, a loan against property enables you to save on the tax amount payable. ... You can claim tax exemption from a loan against property if the loan amount is utilized for business purposes. In such cases, benefits can be claimed against interest paid and associated fees and charges incurred.
if you like my answer pls give me a good rating
Yes, a loan against property enables you to save on the tax amount payable. ... You can claim tax exemption from a loan against property if the loan amount is utilized for business purposes. In such cases, benefits can be claimed against interest paid and associated fees and charges incurred.
if you like my answer pls give me a good rating
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A.Dear Sir,
Please consult Chartered Accountant.
Please consult Chartered Accountant.
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A.Yes. You can get tax benefit on such type of loan against property provided you have Form 16.
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ADV. ANISH PALKAR (High Court)
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ADV. ANISH PALKAR (High Court)
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